Business
Adaptive Ad Systems Provides Third Quarter Revenue Guidance; Revenue Exceeds 2019 Q3 Revenue
Adaptive Ad Systems Provides Third Quarter Revenue Guidance; Revenue Exceeds 2019 Q3 Revenue.
About this update from Adaptive Ad Systems, Inc.
[{"type":"text","content":"VANCOUVER, WA / ACCESSWIRE / July 8, 2020 / Adaptive Ad Systems, Inc. (OTC PINK:AATV), today releases initial guidance of the Company's financial performance for Q3 2020. Adaptive provides Dynamic Digital Ad Insertion (DDAI) via its streaming media hardware and proprietary processing software for all U.S. cable TV markets.The Company reports that, despite the unprecedented nation-wide temporary business closures beginning in March following CDC guidelines to stem the COVID 19 pandemic, Adaptive was able to continue deployment of scheduled ad insertions, as well as continue installations of new network systems. As the pandemic continued in April and May, many advertisers reduced ad spending across nearly all media platforms, including cable television. Those actions, taken by both small and large advertisers, had a short-term, but manageable, effect on the Company's operations. However, sales revenue rebounded strongly at the end of the second quarter and the Company currently anticipates third quarter revenues to exceed the results for the same period in 2019.CEO J. Michael Heil states: "As the pandemic expanded during the first two months of the second quarter, most advertisers cut back ad spending because they were, understandably, unsure if advertisements would impact consumer confidence during the ongoing pandemic. As we entered May, however, advertisers began to test strategic media buys to evaluate the impact of advertising while "shelter in place" rules and guidelines were active. In June, advertisers regained confidence in regional ad spending as consumers showed resilience and parts of the country began to re-open to one degree or another."Despite encountering these complicating market conditions that continued in most of the U.S. during April and May, and based on increasing market confidence late in the second quarter, the Company currently anticipates at least a 20 percent increase in third-quarter 2020 revenue over the same period in 2019.The Company will report the details of Q2 2020 performance next month.ABOUT ADAPTIVEAdaptive Ad Systems Inc. is a digital media and video communications company that, together with its subsidiaries, manufactures, develops and deploys Dynamic Digital Ad Insertion (DDAI) and video streaming media hardware and proprietary processing software for the Cable T...